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Ruby.Exchange

Find Your Next Gem The Leading DEX On SKALE
Category
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Finance
Blockchain
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Ethereum
Currency
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RUBY
Publisher
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RUBY DAO Team
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What is Ruby.Exchange?
Ruby.Exchange is a decentralized exchange (DEX) built as an Automated Market Maker (AMM) powered by NFT's for a gamified user experience.

StableSwap and XY=K
Concentrated liquidity for minimal slippage.

Zero Gas
Trade and LP any amount, with no gas costs.

Intelligent Trade Router
Swap anything to anything, with low fees.

NFTs
Unique gemstone profile images and permissioned rewards.

MEV Protection
Threshold encryption prevents front-running attacks.

Secure Bridge
Deposit or withdraw tokens from Ethereum mainnet in minutes.

MEV Protection
SKALE provides a built-in solution to front-running at the network level. Maximal Extractable Value (MEV) is a serious problem for users of Ethereum L1 and many other networks. The transparency of the blockchain means that pending transactions can be seen and exploited for profit by specially-designed bots, which submit their own transactions and ensure they are confirmed first. For example, incoming trades on DEXs can be "sandwiched" with buy and sell orders to take advantage of resulting price movements. MEV costs Ethereum mainnet users billions of dollars per year, and represents a significant "tax" on regular users.

The RUBY Token
RUBY is the native payment and rewards currency for Ruby.Exchange, and the governance token for the Ruby DAO. The RUBY token embodies both governance and utility functionality, in order to engage and benefit all stakeholders within the Ruby.Exchange ecosystem.

The Ruby DAO
Community management of the Ruby AMM Protocol. As a DeFi initiative, decentralization of the Ruby Protocol in every possible aspect is the ideal. Ultimately, Ruby will not only run on the decentralized architecture of the SKALE network, but will be managed by the global community of RUBY token holders. Progress towards this goal will be taken gradually, starting with enabling the community to vote for changes to liquidity mining rewards.

Get sFUEL
sFUEL is the gas token for the SKALE Network. It's free, and you'll only need to top up your wallet once using the faucet built into Ruby.Exchange. The sFUEL token is SKALE's equivalent of ETH for gas payments. However, because sFUEL has no market value, it enables anyone to use the network with zero transaction costs. Click "Claim sFuel" to open the sFuel pop-up. While other blockchains require users to bridge over the native gas token before they can use dApps, Ruby.Exchange features a built-in and easy-to-use faucet. Simply click the "Claim sFUEL" button in the top menu bar, and then hit the "GET SFUEL" button in the pop-up box. You will be prompted by MetaMask to approve a transaction to mint the tokens.

About The Mainnet Bridge
SKALE's Interchain Messaging Agent (IMA) Bridge enables fast, decentralized transactions between Ethereum mainnet and the Europa SKALE Chain. (Use Metaport for transfers directly between SKALE Chains, which are free and almost instant.) Transfers between mainnet and Europa take around 3-5 minutes, though can be faster. Gas costs need to be paid for the smart contract operations that take place on the Ethereum side.

Swap
Trading on Ruby.Exchange is fast and easy. Start by heading to the Swap menu and selecting Swap, or StableSwap for exchanges between two stablecoins. Use the dropdown menus to select the token you want to swap, and the one you want to receive. Enter the amount in the top box, or click Max to swap your entire balance of that token. Click the Swap button. A dialog box with information about your swap will be displayed. Check the details and click Confirm Swap, and then confirm the transaction when prompted by MetaMask. If it's your first swap, you will be prompted to approve another transaction first, to allow Ruby to trade your tokens. The transaction should confirm within a few seconds, and your balance for each token will be updated. The process for using Ruby's StableSwap is almost identical. In fact, you can use either the main Swap interface or the dedicated StableSwap interface to exchange stablecoins. The result will be the same.

Europa Bridges
The IMA Bridge is the default means of migrating tokens between mainnet and Europa. Metaport will be used for token transfers between SKALE Chains. There are two default bridges for moving tokens into and out of the SKALEVERSE, and between SKALE Chains. Users can bridge tokens from Ethereum mainnet to the Europa SKALE Chain via the IMA Bridge. At launch the following tokens are supported: RUBY, SKL, ETH, WBTC, USDT, USDC, USDP, and DAI.

Yield Farming
How to earn RUBY rewards by staking LP tokens. Once you've deposited liquidity to Ruby's pools, you can stake your LP tokens in Ruby's farming contract to earn RUBY rewards. Start by selecting Farm from the menu. Then, select an entry for which you have provided liquidity. You will see your available liquidity provider (LP) tokens displayed. Enter the amount you want to stake or click Max, then Stake, and confirm the transaction when prompted by MetaMask. After a short time, you will start to see rewards accruing. To access these, you will need to click the Vest button. This begins a three-month vesting process, after which the rewards will be available to Claim through the dashboard (Profile -> Manage RUBY).
Information
Type
Automated Market Maker
Blockchain
Ethereum
Currency
RUBY
Platform
Windows, macOS
Publisher
RUBY DAO Team
FAQ
An Automated Market Maker (AMM) is a smart contract that enables traders to swap tokens against pools of liquidity contributed by users. AMMs have become the dominant form of decentralized exchange (DEX) in the DeFi space due to their simplicity, convenience, and security over other types of DEX.
SKALE is a multichain scaling solution for Ethereum, featuring zero gas fees, fast confirmation and finality, decentralized on-chain storage, MEV protection, instant bridging between SKALE Chains, and 3-5 minute mainnet bridging.
SKALE's unique infrastructure enables Ruby to mint and distribute NFTs without the gas fees that would make this prohibitive on L1 and many L2s, while also providing the means to store all NFT images and metadata on-chain, plus protect users against front-running at the network level.
Europa is a shared SKALE Chain that hosts a cluster of liquidity-focused dApps and services, and a bridge to Ethereum mainnet. It is the Liquidity Hub of the SKALE Network, and the default entry point for tokens and users to enter the SKALEVERSE. Admin rights over the Europa chain are controlled by three-of-five multi-sig, with control to be updated to a DAO model in the future.
Non-fungible tokens, or NFTs, are indivisible blockchain tokens with a low supply (often just one). These unique or limited edition tokens can be used to represent special assets, from digital art and in-game items to custom financial instruments, including Ruby's gemstones.
Ruby incorporates NFTs called gemstones into the platform to make its user experience more engaging, rewarding, and 'sticky'. In addition to profile picture (PFP) gems, Ruby offers financialized NFTs that provide trading fee rebates and, in the future, other rewards.
In the future, further use cases for NFTs may be added, including copy trading and social sharing signifiers, as well as other permissioned rewards.
Metaport is SKALE's interchain widget. The application is embedded within Ruby's interface, and enables fast, free transfers of tokens directly between SKALE Chains.
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